A brief-yet-ongoing journal of all things Carmi. You'll laugh, you'll cry, you'll reach for your mouse to click back to Google. But you'll be intrigued. And you'll feel compelled to return following your next bowl of oatmeal. With brown sugar. And milk.

Friday, August 17, 2012

Facebook sucks - on Wall Street

You've really got to feel for Facebook. From darling to has-been in three months. Okay, I don't feel too badly for the company, as a good chunk of its employees are making out like bandits in the wake of the company's IPO. And we won't exactly be holding a tag day for founder and CEO Mark Zuckerberg anytime soon, either.

Still, as I wrote yesterday, investors hammered the social media giant's stock yet again yesterday as the first of many lockup periods came to an end. I chatted about it in a couple of interviews:

CTV News Channel. Spoke with Sarika Sehgal yesterday live from the street in front of London's city hall. No dogs sniffed at me this time. Video here. Don't mind the delay. We were using a neat new technology to communicate back to the mother ship. Neat, except for the fact that its processing overhead introduces a bunch of pregnant pauses into the proceedings. The price of pushing the bounds, I guess.

There are further dark days ahead for the company. Indeed, Facebook isn't alone, as other onetime-darlings like Groupon and Zynga seem to be floundering, as well. That's what happens when overhyped expectations meet with brutal reality.

2 comments:

i agree with your title...especially the first half. i've felt this for quite some time now...way before the buy out.they want to get their claws into you...and not let go. i tried CLOSING my (personal) FB page months ago...and i STILL get emails from them telling me that 'so and so' misses me.

i think FB has already peaked...they're on the down slide & won't be coming back up!